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So I get a "courtesy call" from a Cap One rep to inform me that my CL of $9300, that I've had for over 15 years and just PIF, was being reduced to $700. I heard that Capital One had a lot of shaky CC accounts because of the recession, but WTF? Since a person today is being reduced to the sum of your FICO, it makes it tougher to get ahead.
Sorry. Just had to vent... Anyone else getting "the call" from Cap One?
Wow...Chase,Target,and now Cap One. Getting spooky out there.
I'm so sorry for your CLD. It is nice to see that they called and gave you notice though. Did they give you a reason? The reasons given are usually random and seldom make sense though.
In all honesty, I did have a couple of lates within the last 9 months (non related account). Both my wife and I are unemployed at the moment. But I have been current on all debt for the last 6 months, and have always sent more than the minimum. I expected a CLD once I paid off the balances, but a decrease of $8,600 ridiculous! I filed Chap 7 11 years ago and my CL remained the same.
Chase just reduced my CL on a former WaMu Visa from $7,500 to $2,500 right after I paid that balance in full. My whole goal of raising my FICO score when I do get to the employment verification stage is being sabotaged. When the economy still lags through 2010 because of a lack of consumer spending, all you have to do is look at actions by CCC like these and you'llunderstand why.
HondaHank wrote:
In all honesty, I did have a couple of lates within the last 9 months (non related account). Both my wife and I are unemployed at the moment. But I have been current on all debt for the last 6 months, and have always sent more than the minimum. I expected a CLD once I paid off the balances, but a decrease of $8,600 ridiculous! I filed Chap 7 11 years ago and my CL remained the same.
Chase just reduced my CL on a former WaMu Visa from $7,500 to $2,500 right after I paid that balance in full. My whole goal of raising my FICO score when I do get to the employment verification stage is being sabotaged. When the economy still lags through 2010 because of a lack of consumer spending, all you have to do is look at actions by CCC like these and you'llunderstand why.
@FretlessMayhem wrote:
I thought Capital One stopped doing UD a couple years ago.
+1
i also thought they were one of the only bank issuers that don't hike after just 1 late.
UD mostly applies to the default APR.
@FretlessMayhem wrote:
I thought Capital One stopped doing UD a couple years ago.